Tiffany & Co was founded in 1837 by Charles Lewis Tiffany and his business partner, John Young. Known today as a luxury brand, at inception the firm originally sold gimcrackery, watches, fancy goods and low level paste and costume jewelry originally from Japan, Germany and China. In one of the firm’s early literature, it advertised Chinese Goods, ‘Curiosities from the Indians’, Fine perfumery, Rogers Cutlery, clocks, sun shades (Wright, p 243). The company’s first store was located at 259 Broadway St, in New York City, at the time the neighborhood was the heart of retail in the city. Though the store opened during the economic panic of 1837, Tiffany’s location was at the epicenter of the New York retail district and it was close to popular …show more content…
In 1842, Tiffany had a successful sale of paste jewelry called Palais Royale, it then continued to sell fine quality brooches, bracelets and scarf pins (Loring, 2008. P 10). This enabled Charles Tiffany to increase focus in the Jewelry business. During this period, most American elites traveled to Europe to shop for best the gemstones (Loring, 2008. p.9), but within a few years Tiffany’s dedication to salesmanship and workmanship changed consumer’s perception of jewelry sold on U.S. soil. A few critical moments were pivotal in Tiffany’s rise to become one of America’s pre-eminent jewelers. The first was Tiffany’s purchase of French diamonds and jewels sold by French aristocrats in 1848 following the riots in France (Mirabella, 1997. P. 18). French aristocrats who were willing to dispose of some of their diamonds at a discount found a willing buyer in John Young of Tiffany. Young purchased some of the jewels and brought them to New York for display at Tiffany’s store. Claims were made that the jewels were part of the Crown jewels stored in the vaults beneath Tuileries, others claims promoted by Tiffany were that among the diamonds from France was Marie Antoniette’s diamond girdle. The French purchase and the availability of prized jewels of good repute helped trigger Tiffany to a higher public consciousness in America. American elites who mainly purchased fine jewelry in Europe now found a